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There has been much written in the local press about distressed properties for sale in Santa Clara County, so the reader may not understand that since real estate is so very localized, some areas are severly impacted, while others are not!
Some market areas like Alum Rock and South San Jose are highly impacted with both large absolute numbers and high percentages of available inventory; the good news is that they also have high numbers of pending distressed sales, which means the inventory is also being absorbed by buyers (primarily investors and first time buyers).
Some market areas such as Morgan Hill/Gilroy/San Martin, Evergreen, Berryessa, Milpitas, Central San Jose and Blossom Valley also have signifigant portions (above the county average) of homes for sale that are distressed.Â
At the same time, some market areas such as Saratoga, Cupertino, Mountain View, Los Altos, Los Altos Hills and Palo Alto have very low percentages of distressed inventory! Only 4 available homes in Saratoga are distressed.
Click>Here for a link to the complete “Market Snapshot” chart on my website.
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